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Q. What should I do first?
A. The first step should be to seek out the services of a competent Finance Broker who can offer you unbiased advice as to the various lenders and what they offer.
Q. How do I find the right home?
A. A good place to start is the website you are currently in, whilst the property may not be listed here we may be able to find the property for you through other agency listings, simply click here, tell us what you are looking for and we will do our best to help. The next place to start may be the local newspapers or Reiwa.
Q. How do I know that I am not paying too much?
A. A professional real estate agent will provide you with evidence of recent sales so that you can verify the correct price of the home you are interested in. One thing to be mindful of is that properties don’t always tell the full story from the outside and therefore the knowledge of an experienced professional real estate agent should also be a factor in making your final decision.
Q. Do all homes get advertised in the newspapers?
A. No they don’t, many sell before they even hit the press therefore establishing a relationship with an agent that you feel comfortable with who will advise you when a home that suits your needs hit’s the market may be a good idea.
Q. What is this price ranging all about?
A. Price ranging was designed to avoid price being the barrier in regards to why a house won’t sell. It enables all buyers looking in a particular price range to view the property and let’s the natural market forces take care of the ultimate sale price.
Q. How do I know how much to offer?
A. If you have had a look around you will have an idea already as to what is a fair price for both you and the seller. If not ask your real estate agent to provide you with recent sales evidence so that you can come to an informed decision.
Q. How do I go about making an offer?
A. An offer to purchase a property in Real Estate is done in written form detailing such things as price, conditions, and time frames that you would like to move into the property. All of this can be handled by your real estate agent. The offer then must be presented to the seller for their consideration.
Q. What happens if they don’t accept my offer?
A. The seller may choose to reject your offer or counter offer for a price and conditions that are favourable to them. If they choose to counter offer this must be done in writing back to you with the alterations requiring their initials. It’s important to note that alterations require both the buyers and sellers initials for the conditions to be binding on both parties.
Q. What if I haven’t sold my house yet and I want to buy a home that I’ve seen?
A. Your agent will then take a written offer subject to sale of your property. You will probably need to have a 48hr clause as a condition on the contract which means that should another offer come along prior to you selling your home the seller may notify you giving you 48 hrs to make your offer un-conditional otherwise they may proceed with the other offer. If this causes you concern then you ask your agent how to overcome this.
Q. Do I then lose my deposit?
A. Absolutely not, if your offer has lapsed due to the invocation of the 48 hr clause then your deposit will be refunded without deduction whatsoever.
Q. What sort of conditions should I put on my offer?
A. If you require finance then you should always make your offer subject to finance even if you already have a written pre-approval from the bank. Other standard conditions might include a warranty of all gas, electrical, plumbing, reticulation and pool equipment if included in the sale, everything should also be maintained to the same standard as first inspected until settlement. Your agent should have standard clauses to that effect.
Q. Do I need a building inspection?
A. You may find that this is an un-necessary expense if the property has no obvious flaws then the only thing this report will pick up are items that may require maintenance which will not make the offer void. If you are unsure then speak to your agent in each circumstance and they should be able to advise you.
For more information please contact us
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